Weakness was seen in turmeric futures due to strong production estimates in the current year. As per the market Sources suggested that the total production of turmeric in the current year is expected to be around 68-69 lakh bags ( one bag =75 kgs ) against 47 lakh bags of the last year. This is mainly due to strong production forecast in major producing states such as Andhra Pradesh and Tamilnadu. This has increased stockiest selling from elevated levels. The NCDEX April futures declined by 0.06 percent to trade at Rs 10284 per quintal.
Powered by Commodity Insights